Tokyo rubber extends gains

Benchmark Tokyo rubber futures rose on Tuesday on a weaker yen against the dollar, recovering more ground after plunging to an eight-month low on Friday, brokers said. The Tokyo Commodity Exchange rubber contract for July delivery finished 1.2 yen higher at 183.8 yen ($1.72) per kg.
The front-month rubber contract on Singapore's SICOM exchange for March delivery last traded at 143.80 US cents per kg, down 0.3 cents. China's financial markets are closed for the Lunar New Year holidays. The dollar inched higher versus a basket of major currencies, clinging above a three-year low set last week, but its outlook was clouded by concerns that the ballooning US fiscal deficit could disrupt the economy. A weaker yen makes commodities denominated in the Japanese currency cheaper for holders of other currencies.